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Biotech / Medical : Biotech - Technical Analysis

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To: aknahow who wrote (61)	5/21/2001 11:53:59 PM
From: XenaLives	Read Replies (1) of 544

First, I want to make it clear that I started this thread to learn, not to hold myself out as a technical guru :) Still I will venture an opinion. I haven't mastered some of the more classic analysis techniques, but in this market I have found that volatility is very important. It looks like the boat started rocking again today and if I were invested in the stock that would make me nervous. I am seeing repeated patterns of dragging stocks down to trigger stops and then cranking them back up again. I think there is a conscious effort to exploit the fear that has been conditioned into the retail investor by the recent market volatility. I just got whacked good in IMGN - the news was too good and I thought NO WAY would they be able to pull it down. I was wrong. I am constantly amazed at the inability of the retail investor to read and comprehend a press release. Good news comes out, the stock is shorted down rapidly, and the hordes panic. A few days later the news sinks in and they come charging back, buying at higher prices. Good luck!

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